Introduction
tBTC is officially launched. tBTC, which lets Bitcoin holders safely access Ethereum DeFi apps, is live and ready to be used now on tbtc.network. tBTC has been tested rigorously and has undergone an unprecedented three audits. tBTC concluded its first security audit, by ConsenSys, in March. In June, the second Trail of Bits audit was completed, and in August, a new bitcoin audit.
tBTC has been designed with the highest standards of security and usability. The project uses threshold ECDSA. And at launch, Keep has provided protections via Nexus Mutual so users can have high confidence their funds will stay safe.
Nexus Mutual is a decentralized insurance protocol that helps users hedge against smart contract risk.With Nexus Mutual, anyone can purchase coverage. They provide a risk-sharing pool that provides users simple, transparent protection against their financial risks. In broad strokes, Nexus Mutual allows members of its community to buy cover against a particular risk. It’s an enticing proposition, but how does it work?
Step 1
Open in the same browser where you prepared Metamask, official website https://app.nexusmutual.io/cover . Connect with a Metamask wallet.
Step 2
Select “Buy Cover”.
Enter the name of the contract — tBTC. Click “Select”.
Step 3
From there, you then need to decide how much coverage you want and for how long.
Step 4
Joining Nexus Mutual entails paying 0.002 ETH and filling out standard KYC/AML processes. Though it is a DeFi-centric protocol, Nexus Mutual is a legally registered company based in the United Kingdom.
Step 5
Generate the quote and verify the transaction on Metamask to grant permission to accept the contract and provide the funds.
Step 6
Congratulations! You have successfully purchased Cover.
Stay up-to-date on everything related to tBTC by following the Discord channel.
